Out of the following, when will the need for valuation of goodwill does not arise?

The valuation of goodwill is required when there is a reconstitution of a partnership firm (such as admission, retirement, death, or change in profit-sharing ratio) because the relative stakes change, requiring compensating adjustments.However, during the dissolution of a partnership firm, the business is completely wound up, and assets are sold off. Goodwill is treated like any other saleable intangible asset in the Realisation Account based on what it actually fetches, so no separate theoretical valuation process is needed.